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United Bank of India has signed a bancassurance deal with private life insurer HDFC Life Insurance Company. Through this partnership, United Bank’s customers will be able to take advantage of HDFC Life’s expertise in life insurance products, distribution and customer service.
United Bank has a strong presence in rural and semi-urban areas, with over 2,000 branches and offices, while HDFC Life is India’s largest non-bank-promoted private life insurer. The corporate-agency partnership is significant as United Bank undertook a rigorous selection process and evaluated 18 private life insurers to finally select HDFC Life.
Vibha Padalkar, MD and CEO, HDFC Life, said: “We are delighted that we emerged as the preferred partner for United Bank of India, our third PSB tie-up this year. HDFC Life has built many strong alliances in the banking world to offer enhanced choice for customers across the country.”
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